The updated price comparison of condominiums and offices in Asian countries.

Poste date: Thursday, April 23, 2015

The price of condominiums and offices in Japan is looking comparatively cheap in the international market.

According to a private research organization, the price of a newly-built condominium in Tokyo as of April 1, 2015 is less than half price of the same in Hong Kong when converted into Japanese Yen. Influenced by the weakening Yen, Japan market is looking quite attractive internationally, and this is resulting to an increase in inflow of overseas investment funds to Japan.

The Japan Real Estate Institute (Minato-ku, Tokyo) announced on May 28^th that as of April 1^st, the price index of newly-built condominiums in Hong Kong are equivalent to 234.9 when Tokyo is considered 100. This outcome shows an approximate 20% increase in difference between the two cities as compared to the figure recorded 6 months ago, on October 1^st, 2014. The luxurious condominiums in Tokyo are also cheaper than those in Shanghai, Taipei, and Singapore.

The number of investments from Hong Kong and Taiwan has increased by twenty times since 2010 based on a figure disclosed by a private company. They believe it is due to the weakening yen as well as expectations influenced by the 2020 Tokyo Olympic Games.

Source : Japan Real Estate Institute　　

Office rents in Tokyo are also looking quite affordable in the international market. The price index as of April 1^st for office rent in Hong Kong and London are equivalent to 185.2 and 151.5 respectively while the same in Tokyo is 100.

Office rents in Tokyo, London, New York, and Hong Kong all declined after the Lehman shock. They have all begun to recover upwards, except for Japan, where the upturn trend of recovery is quite slow.

Exterior of Glarsa Tokyo East

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Glarsa Tokyo East

Glarsa Tokyo East is located within an 18-minute walk to Tokyo Station, and within a 10-minute walk to Hatchobori Station on the JR Keiyo Line/ Tokyo Metro Hibiya Line and Kayabacho Station on the Tokyo Metro Tozai Line/Hibiya Line, which are the nearest stations to the building. From there, it is only 3 minutes directly to Otemachi Station, the center of business, 6 minutes directly to Ginza Station, a shopping town, and 10 minutes directly to Kasumigaseki Station, lined with government offices. The location is popular among office workers with high incomes who live alone and have no shortage of food, clothing, and shelter. In addition to the 24-hour surveillance system, the common areas are equipped with security cameras, auto locks, and dimple keys to ensure the safety of women living alone.

JPY 28,000,000

Exterior of BAYZ TOWER＆GARDEN

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BAYZ TOWER＆GARDEN

A large tower condominium apartment with 31floors and 550units. It is in an expansive location surrounded by water and green, with 6 min walk to Shin-Toyosu Station and within walking distance to Toyosu Station. The area is within easy access to Central Tokyo having a rich living environment with abundant nature. Convenience for life is well-developed in the neighborhood including the nearby shopping center, supermarket, and convenience stores as well as schools and hospitals. In-house common use facilities are fully equipped including various lounge spaces, guest rooms, and facilities such as party rooms, gym, and pool are luxury hotel quality.

JPY 198,000,000

Exterior of La Vogue Minamiaoyama

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La Vogue Minamiaoyama

Lavogue Minami Aoyama was built in October 2003 by Sampei Construction Co, and formally developed by PROPERST Co. The building is an 11-minute walk from Omotesando Station on the Tokyo Metro Ginza, Chiyoda and Hanzomon Lines. The property is located in Minami Aoyama 6-chome, within living distance of the popular Omotesando, Roppongi and Nishi-Azabu areas. The building is a 13-storey steel-framed reinforced concrete building with a total of 58 units, an auto-lock system and delivery boxes, and pets are allowed (subject to detailed regulations).

JPY 76,000,000

Exterior of Sage Akasaka

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Sage Akasaka

2 min. walk from “Akasaka” station on Chiyoda line 7 min. walk from “Tameike-sanno” station on Nanboku line 10 min. walk from “Akasaka-mitsuke” station on Marunouchi line and Ginza line 10 min. walk from “Kokkai-gijidomae” station on Chiyoda and Marunouchi line Good access to 4 stations and 4 train lines.

JPY 108,000,000

Exterior of Green Park Harajuku

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Green Park Harajuku

Green Park Harajuku is a 5-story reinforced concrete building with 2 basement floors, built in June 1977, with a total of 8 units, located in Sendagaya 3-chome, Shibuya-ku, Tokyo. It is a 7-minute walk from Harajuku Station on the JR Yamanote Line, a 4-minute walk from Kitasando Station on the Tokyo Metro Fukutoshin Line, and an 8-minute walk from Meijijingumae Station on the Tokyo Metro Chiyoda Line, making it an attractive property with good transportation access. This low-rise vintage apartment is located in a quiet residential area while being within walking distance of the cutting edge of fashion in Harajuku and Omotesando. Seven-Eleven Harajuku Gaien Store is about 210m away, Sendaya Nakayoshien Kindergarten is about 270m away, Shibuya Ward Sendaya Elementary School is about 300m away, Meiji Jingu Shrine is about 1.2km away, and many other convenience stores and coffee shops are scattered throughout the area.

JPY 110,000,000

Exterior of Stage First AOYAMA

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Stage First AOYAMA

Stage First Aoyama was constructed in April 2000 by Nishimatsu Construction and developed by Meiwa Juhan, and is built to new earthquake resistance standards. It is a 5-minute walk from Gaienmae Station on the Tokyo Metro Ginza Line and a 7-minute walk from Omotesando Station on the Ginza, Chiyoda and Hanzomon Lines. The popular Aoyama/Omotesando/Harajuku area is within the sphere of daily life, being close to the Jingu-Gaien and Kita-Aoyama 3-chome areas, which are expected to be redeveloped in the future. The building is a reinforced concrete structure with seven floors above ground and a total of 28 units. The units consist of 1K-type layouts, with compact-sized units ranging in size from 18.38 m2 to 36.15 m2.

JPY 69,800,000

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